Changes in canned good prices

In addition to turkey, staples at the Thanksgiving table include but are not limited to cranberry sauces, pumpkin pie, and gravy sauce. All these dishes have one thing in common; a component of each frequently requires canned goods to create.

Unfortunately for Thanksgiving enthusiasts, numerous factors contribute to the soaring prices of preserved goods. 

“A lot of people stocked up on canned foods over the last year because they keep a long time on the shelf. So suppliers need to make more to keep up,” Zoë Plakias, a Ph.D. economist at Ohio State University, said. 

Shortages concerning canned goods aren’t caused by labor issues, however, but instead by consumer frenzies from the pandemic. Although a year has passed since panicked buyers frantically cleared out grocery stores during the initial stage of the pandemic, there are still lasting effects that carry into the current year.

Canned goods are packaged with aluminum and steel,  and these materials prices have recently skyrocketed in light of both the pandemic and other outside factors. 

“It takes a lot of energy to produce aluminum, and energy prices have increased a lot this year relative to last year when they were very low, so these prices and enhanced environmental regulations in China are leading [them] to cut back on production,” Plakias said.

The country of China and its industries are significant producers of energy sources that are globally used. When the government imposed restrictions on steel and aluminum plants, massive price increases were created, affecting the prices of canned goods worldwide. 

Despite all the supply chain issues, Plakias notes that it’s crucial to address that food is not running out in the United States and that the lack of a couple of items doesn’t constitute a complete desolation of food availability. Rather, it’s advised for people to be considerate and buy only what they need in preparation for the feast.  

“Stepping into the holiday season, the best advice is to be mindful really plan ahead when buying your stuff,” Malone said.